Solid iPhone sales boost Apple revenues

Apple plans to double its share buyback scheme to $100bn as solid iPhone sales helped revenues rise 16% to just over $61bn. The company said it sold 52.2 million iPhones in the three months to March - only a touch below expectations, despite waning global demand for smartphones. Revenues at Apple's services business, which includes Apple Music, App Store and iCloud, jumped almost a third to a better than expected $9.1bn. Shares rose 4.5% in afterhours trading.